August 24, 2020 8:01am

Still, the oversold deserve some recognition ...

Pre-open indications: 0 BUYs and 5 SELLs

The Biostage (BSTG) Chronicles <Read more>

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Dow futures are UP +1% (+278 points), S&P futures are UP +0.87% (+29 points) and NASDAQ futures are UP +1.02% (+118 points)

 

Stock futures are pushing for a Monday positive open on developments of coronavirus treatments initiating the return of sentiment;

European stocks opened higher as investors weighed the latest financial, geopolitical and coronavirus news worldwide;

Asia Pacific stocks were higher as developments on the coronavirus pandemic continue to be welcomed by investors.

 

Henry’omics:

On Sunday, the U.S. FDA issued an emergency use authorization of convalescent plasma for hospitalized Covid-19 patients, a treatment that uses blood plasma donated by people who’ve recovered from the virus.

  • President Trump said at a news conference Sunday that the plasma treatment cuts the mortality rate by 35%.

The Dow is 5% below its record high from February as many of its consumer discretionary and industrial constituents have yet to fully recover from the unprecedented sell-off earlier this year. The Nasdaq gained 2.6% last week, posting a six-week winning streak and notching its 36th intraday high which also established a gain of 26% this year.

Friday night’s post title – “not only did sector share pricing slip; add in any iota of relative strength”

  • The NASDAQ closed UP +46.85 points (+0.42%);
  • The IBB closed down -0.58% and XBI also closed down -1.23%

Sector volume was LOW with 3 of the 12-upside having higher than the 3-month average volume and the 2 of 22-downside having higher than the 3-month average volume;

  • The CBOE Volatility Index (VVIX: INDEX) was down -0.18 points or -0.79% at 22.54;

Friday’s percentage (%) of the 12-upside were +0.18% (ALNY) to +21.80% (BSTG) while the 22-downside ranges from -0.36% (BLUE) to -4.12% (PSTI); 

Last five (5) sessions:

  • Friday closed negative with 12 advancers, 22 decline and 1 flat
  • Thursday closed negative with 12 advancers, 22 decline and 1 flat
  • Wednesday closed negative with 16 advancers, 17 declines and 2 flats
  • Tuesday closed negative with 13 advancers, 20 declines and 2 flats
  • Last Monday (8/17) closed positive with 29 advancers, 4 declines and 2 flats

Q3 so far:

  • August, 6 positive closes and 9 negative closes
  • July -11 positive and 11 negative closes with 1 holiday

 

Companies in my headlights – It’s your decision; I provide an idea and context:

Maintaining Sell:

Biostage (BSTG) closed up +$0.29 to $1.62 after Thursday’s +$0.16, Wednesday’s -$0.18 (was down to $1.00, Wednesday noon) after Tuesday’s -$0.81 and last Monday’s -$0.04 (was as low as -$0.20).  Keep writing those checks to “PUMP” the share price – it’s costing you more and the less goes to the operations of the company.

March 30, 2020 - the share price was +$4.25 and last Thursday (9/20), the share value fell as low as $1.00 although pumping the stock to “support” the newest private placement round of 75,000 restricted unregistered shares priced at $4.00? A joke to the “TRUE” value of the publicly traded shares. 

Share pricing volatility as compared to daily volume (which has dramatically increased to due to “buying”) speaks louder than numbers …

The term – “going concern”, it’s even more UGLY when all this could have been AVOIDED! Also, remember the strategic plan for “forward motion” that was TOTALLY disregarded.

There still exist the millions of private placement unregistered shares (priced at $3.20, $3.60, $3.70 and now $4.00) existing FAR beyond the registered outstanding and float shares.

SO again, why are companies with ‘going concerns”, measured by continual losses, development failures, unfiled INDs and continuous inflated financings – still listed?

 

SELL:

CRISPR Therapeutics (CRSP) closed down -$1.30 to $90.46 after Thursday’s -$8.88 to $91.76, Wednesday’s +$5.72 to $100.64 and has a negative -$0.06 or -0.07% aftermarket (Friday) indication and a 52-week change of +93.66%;

Mesoblast (MESO) closed up +$0.80 to $18.51 after Thursday’s -$0.07 to $17.71, Wednesday’s -$1.14 to $17.78, Tuesday’s -0.89 to $18.92 and last Monday’s +$1.93 to $19.81 with NO aftermarket indication with a 52-week change of +286.43% - time to lighten the “load”;

BioLife Solutions (BLFS) closed up +$0.60 to $20.31 after Thursday’s $19.71, Wednesday’s $19.51 and Tuesday’s $19.40 and has a negative -$0.79 or -3.89% aftermarket (Friday) indication;

UniQure NV (QURE) closed up +$0.44 to $38.56 after Thursday’s $38.08, Wednesday’s $38.80, Tuesday’s $40.84 and last Monday’s $41.15 with a negative -$0.96 or -2.49% aftermarket (Friday) indication;

 

The BOTTOM LINE: I say today what others won't, so you can do what others can't whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors.

Reiterating, have you heard of Albert Einstein’s definition of insanity? The one where he says it’s “doing the same thing over and over again and expecting different results?”

 

Opinions expressed are those of the author and are subject to change, and not intended to be a forecast of future events, a guarantee of future results, nor investment advice.

Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors.  All investments are subject to risks. Investors should consider investment objectives.

Henry McCusker, the editor and publisher of RegMed Investors does not hold or have positions in securities referred to in this publication.